Bitcoin Foundation PR Campaign
金融paper代写 This an approach whereby two countries agree to keep the Bitcoin Exchange currency of their currencies in a certain range in a fixed form.
This report is in support for the use of a PR (Public Relations) strategy for our client Bitcoin Foundation. This is an international organization; it’s a financial organization trying to reach the population of the world with a different payment method. Despite the fact that the report will be international focused key consideration will be made to Europe. Generally, the report will be an overview of how to fund and support Bitcoin Company as it expands its financial boundaries (Yermack, 2013).
The CEO of Bitcoin Foundation has in the past stated that various organization in the United States, as well as other around the world, adopted Bitcoin infrastructure worth millions of dollars. This investment has been a frontline investment to the Foundation as it seeks to market its products in the international arena. The promotion of Bitcoin is the money market is one of the strategies of the Foundation. Therefore, this project is based on the promotion strategy of Bitcoin towards international success especially in Europe.
Thus, the project acts as proposal developed by XYZ consulting aims and objectives from a public relation and marketing strategies.
In addition, this report will be determined or evaluated by using a situational Analysis that will be based on the following parameters:
i.Detailed SWOT and PEST analysis. This will helpin the evaluation of the best strategies to be employed as well as the opportunities that the business environment in the Europe offers
ii.Through the assessment of the stakeholders, a proposal forthe audience and target market for Bitcoin Foundation will also be noted 金融paper代写
iii.Based on the SMART objectives noted, a well-framed Marketing and PR strategy will be highlighted towards the end of the report
Bitcoin Foundation will be working with a budget of £1.5 million for implementation the embedded marketing-PR strategy. The synopsis of the cost will be in section 6
本报告支持为我们的客户比特币基金会使用 PR（公共关系）策略。这是一个国际组织；它是一个金融组织，试图以不同的支付方式接触世界人口。尽管该报告将以国际为重点，但仍将重点考虑欧洲。通常，该报告将概述如何在比特币公司扩大其财务边界时为其提供资金和支持（Yermack，2013 年）。
因此，该项目是 XYZ 咨询公司根据公共关系和营销策略制定的目标和目标。
iii.根据所指出的 SMART 目标，将在报告末尾强调一个结构合理的营销和公关战略
比特币基金会将使用 150 万英镑的预算来实施嵌入式营销公关战略。费用概要将在第 6 节
Bitcoin Foundation is an American non-profit corporation. It was started in 2012, but its history digs from 2008. The organization was developed on a Linux Foundation because it is funded primary using grants made by profit generating firms that depend of the Bitcoin Framework.
The mission statement of the Foundation is “standardize, protect and promote the use of Bitcoin cryptographic money for the benefit of users worldwide”.
The Vision is to establish an industry that offers alternative currency exchange offered on a user-friendly platform. 金融paper代写
To enhance a currency exchange medium that offers credible and reliable service to its users around the globe.
比特币基金会是一家美国非营利组织。 它始于 2012 年，但它的历史可以追溯到 2008 年。该组织是在 Linux 基金会上开发的，因为它的主要资金来自依赖比特币框架的盈利公司提供的赠款。
Bitcoin is controlled by the Finance Ministry in UK because it is the foundation that deals with issues that entails comprehensive monetary concerns. The foundation is indicated with the responsibility of offering an alternative mode of payment to money. Into attain this aims, the foundation has invested more than £1.5 million between 2010 and 2014 (Taylor, 2013).
The Finance Ministry in the UK has approved the adoption of this system of payment as it offers credible alternative for money, are looking for sponsors, marketers as well as other organizations to see the implementation of the process through its initial and financial stages of adoption and implementation of Bitcoin in the country.
In addition, the ministry has also opted to invest money into the project to offer its people alternative.
Now more than 5 companies including Barclays bank and the Stanbic bank have started using Bitcoin as a monetary exchange alternative.
The project has identified various factors that affect the establishment of Bitcoin in the UK:
i.Many people in the country do not understand the legality as well as the use of Bitcoin as an alternative of money
ii.The populace hasa culture of not supporting other cultures especially from the United States; they consider this as uncompetitive of their nation. 金融paper代写
iii.Most organizations are also not in favor, not because they do not understand the Bitcoin workability, but because the oversee money as a better alternative (Clark & Essex, 2012)
The government of UK is on the eve of ensuring that its ministries, as well as other government agencies and private organization, adopt this mode of exchange. This is intended to share the cost that come with portability and security that come with money. Since Bitcoin can be monitored from a centralized server, there is high chance that this will help reduce terror funding amid other issues.
Before, evaluating the marketing-PR strategy to be adopted, a SWOT and PEST analysis is undertaken as below:
比特币由英国财政部控制，因为它是处理涉及全面货币问题的基础。基金会有责任提供另一种支付方式。为了实现这一目标，该基金会在 2010 年至 2014 年间投资了超过 150 万英镑（Taylor，2013 年）。
现在，包括巴克莱银行和 STANBIC 银行在内的 5 家公司已开始使用比特币作为货币交易所的替代品。
在评估要采用的营销公关策略之前，进行如下 SWOT 和 PEST 分析：
4.SWOT Analysis of Bitcoin Foundation in Relation to the Ministry of Finance Re-organization
i. Non-discriminating for of monetary exchange supported with all sorts of business as well as other government activities
ii. Increasing popularity: It is widely used around the world
iii. Available to be exchanged for conventional currencies such as dollars, Euro and Pound among other countries around the globe
iv. Secured by intractable cryptology
v. Limited number of coins to be produced it is estimated to be around 21 million caps) 金融paper代写
vi. The Foundation is also enjoying strong corporate as well as strong customer relationship management within the country
vii. Since the network used by bitcoin is unique, it enjoys monopoly of the services it rendered to the people and the governments of UK
viii. Bitcoin foundation as one of the best staff; they have a dream of expanding the company to flourishing frontiers
ix. The relationship that the foundation has established to its customers in the UK is satisfactory hence an added advantage
i. Deflationary (This is considered as the virtual relationship that the foundation has in UK; it varies from firms to firms, people to people and companies in companies – some consider it a strength)
ii. Currently, Bitcoin exchanges have been the victim of cyber hacker attacks; this resulted in losses in the firms’ liquidity between 2010 and 2012.
iii. As with any new creation of Bitcoin, there are various know falls and vulnerabilities that call for action.
iv. The currency has not wide popularity like that of other currencies such as USD, Pounds, and Euro.
v. The people of UK have negative cultures towards change hence not ready to accept Bitcoin
vi. Due to changes in political stigma in the UK as a result of Bitcoin adoption, there is expected low growth of the coins
i. Bitcoin is able to replace other currencies in the UK market; the potentials are great.
ii. Bitcoin have become a relevant currency that is used for online exchange. 金融paper代写
iii. The UK market offers supports for this new currency though the people are not in favor
iv. With changes in technology in Europe, the UK business environment offers considerable good market for bitcoin
i. Possible copy-cat currencies may develop hence sway the success of bitcoin Foundation
ii. Increased computer and networking could crash the system hence cause a lot of problem to the transfer of bitcoin
iii. Being deemed illegal by sovereigns; most countries in the Europe is not in favor saying that it a local US exchange and not used for international exchange
i. The people, as well as the political leaders, are in support of this monetary exchange
ii. The Ministry of finance is also in support of the adoption and the implementation of the bitcoin use as a currency in the UK
iii. The pressure from the government of UK to adopt this strategy of monetary exchange is an added advantage for bitcoin foundation
iv. National and regional policy on cyber-crime supports the development of bitcoin in the UK 金融paper代写
v. The governments of UK push towards technology is a steering platform for bitcoin framework and network
i. The support that bitcoin gets from its supports and funders drive its ways to top economic status
ii. Since the business is a profit-making venture its generates its own income for independent sustainability
iii. The stability of UK’s economy also offers bitcoin foundation a stable stand to invest
i. Despite the fact that the locals are not in favor of this currency, they are in to support it as the government has objected to doing so
ii. Bitcoins is used across all ages as long as there is monetary exchange needed
Being one of the nations that support technology, bitcoin enjoys outstanding internet or online networks for its use
6.Key Finding from PEST and SWOT Analysis
The opportunities and the strengths that come with Bitcoin is a clear representation that this form of exchange will eventual take course to be one of the media of exchange in the world. Since the currency has deflationary traits, it will be beneficial to the customers. In addition since it has strong objectivity as well as a global trait, it is of value to investment especially those planning or already investing in the UK.
Despite having a negative reception in the UK, bitcoin has a growing popularity in the UK and the world at large. In order for bitcoin to remain successful, the pioneers should consider that it must be subjected to external rules to its algorithms. This is aimed at absorbing the currency to local currencies. The analysis indicates that Bitcoins should remain outside the authorities and stakeholders that wish to control it. Likewise, it should over the preview of the government and remain to the pocket of the users. 金融paper代写
The external environment as denoted by PEST analysis indicates that Bitcoins are there to remain and expand as alternative monetary exchange currency.
Both the social and technological perspective are in favor of its adoption in the UK. As a result of its use in the international online platform, this currency is yet to reap the benefits of its outstanding frameworks and online networks. External environmental analysis indicates that that Bitcoin foundation is able to meet its current demands as well as that of the future all the facets are supportive of the company objectives. The political environment is in did supportive of all the activities towards a change in monetary currency adoption (Bitcoin).
Technology greatly supports the company network and infrastructure as needed by the board of Bitcoin foundation. This is an added advantage towards the success of the Company when it comes to expansion and development in the UK.
6.PEST 和 SWOT 分析的关键发现 金融paper代写
7.Public/Stakeholders Mapping Matrix
This matrix indicates the level of support as well as the influence that the stakeholders have to Bitcoin foundation.
Level of support
The government of UK
The suppliers of Bitcoin
The users or the customers
|Low Level of Influence High|
It is obvious that all the stakeholders in the matrix are not able to work cross each other. The means that all the stakeholders must work hand-in-hand with each other. The relationship that exists between them as supports and influencer of the bitcoin project or campaign must be supported by a policy in order to solicit funders. Likewise, the matrix shows how corporate management is key towards the success of bitcoin foundation.
|低 影响程度 高|
7.1 Stakeholders Concerns
This section will highlight the concerns of all the public/stakeholders. The analysis of the concerns will be vital in determining the best marketing-PR strategy and the best communication plan to adopt
The government Concerns
What will be the value of adopting the new currency?
What is the impact of the new currency?
Do we have the necessary policies to support the implementation of Bitcoins?
What will the people say towards this change? 金融paper代写
Do we benefit from the use of bitcoins?
What is the cost of using the bitcoins as well as neglecting it uses in our economy?
What the value of the business to us as suppliers of Bitcoins to UK?
What are significances of its use to the people of UK? Or the economy?
Does the relevance spread to us?
Users of Bitcoins
What effects does it have on the economy at to per capita income?
What steps should we take to safeguard our interests as suppliers?
What steps must be considered to ensure that the value of money still remains in our economy?
Do we share the needed information and data concerning Bitcoin?
What campaign strategies should we adopt to inform the people about Bitcoins in UK?
7.2 Objective of the Bitcoin Campaign
It is clear that in order to set the campaign going there must be effective and efficient strategies to ensure that key considerations of concerns are met. The below objectives are to be adopted:
i.To increase the numbers of Bitcoin usersin the UK
ii.To seek more support of Bitcoin in the UK: especially from the corporate field and the government
iii.To expand the Bitcoin market in the UK and to advocate for its use
iv.To share the worth or the value of Bitcoin in the UK market 金融paper代写
The SMART objectives are:
i.To increase the number of Bitcoin users in the UK by 50% by 2016. This will be evaluated in 2017 via interest gain as well as the customer’s satisfaction
ii.To support the Bitcoin network via a controlled infrastructure by at least 30% in the UK. This will be determined by the user based reached as well as the value of Bitcoin to the UK government and the people
Given the magnitude of the campaign it would be wise to conduct an audit of the after the projects end on 16th March 2016. This audit will be determined from the results and the success factors of the campaign.
i. 到 2016 年将英国的比特币用户数量增加 50%。这将在 2017 年通过利息收益和客户满意度进行评估
ii.通过英国至少 30% 的受控基础设施支持比特币网络。这将取决于用户所达到的以及比特币对英国政府和人民的价值
鉴于活动的规模，在 2016 年 3 月 16 日项目结束后进行审计是明智之举。该审计将根据活动的结果和成功因素确定。
8.Campaign Strategy and Activities
The strategy will be in four-fold:
i.A message to all the new users, this will ensure that new users of bitcoins are integrated in one couponto make sure that they are group based on their use of bitcoins, as well as their reliability in investment.
ii.The foundation will have to adopt various marketing strategies in order to meet the current demands of the client on board. One of the main marketing-PR strategiesthat will be adopted is the use of local media such as TVs and Newspaper in the campaign.
iii.It is advisable that the foundation must make sure that it adoptsa system which is user-friendly in order to persuade more users. The online portal of Bitcoin should be simple so that more people are able to use their online infrastructure
iv.Lastly, the use of celebrities as their marketing ambassadors will also be vital in raising the campaign awareness all over the UK.
The campaign will start by informing the celebrities their role so that they can be able to share the advocacy message to the market. This will be done publicly via the Foundation websites and from public meeting in London on May 2015. 金融paper代写
The key reason why they are brought on board is to make sure that users are educated on the value and the importance of Bitcoins, the impacts and value of the bitcoin will also be addressed in the meeting with the celebrities.
All the stakeholders will also be informed about the steps that the company is taking. This will be via emails and business letters.
The campaign will take place in sequence. So as to allow easy flow of communication between the parties involved.
8.Campaign 策略和活动 金融paper代写
该活动将首先告知名人他们的角色，以便他们能够向市场分享宣传信息。这将通过基金会网站和 2015 年 5 月在伦敦举行的公开会议公开进行。
8.1 Branding, Budget and Use of Billboard
Bitcoin Foundation will offer a branded image of the company in order to increase the visibility of the company to the users. Branding will be via the marketing strategies used by the firm. This is an important factor towards increasing the appearance of the bitcoins to the people or the users. 金融paper代写
The budget is expected not to cost more than £800,000 until the end of the campaign process. The company will also increase its reliability by using various campaign strategies such as the use of billboards. This will create user attention hence develop their Bitcoin purchasing power.
比特币基金会将提供公司的品牌形象，以提高公司对用户的知名度。 品牌化将通过公司使用的营销策略进行。 这是增加比特币对人们或用户的外观的重要因素。
在竞选过程结束之前，预算预计不会超过 800,000 英镑。 该公司还将通过使用各种活动策略（例如使用广告牌）来提高其可靠性。 这将引起用户的关注，从而提高他们的比特币购买力。
8.2 The Use of Social Media, and Foundation App
Social media platforms will be adopted in the campaign. The only and most used social media platform to be used in Facebook.
The foundation will use Facebook as a campaign strategy. The platform will be used to inform the public about Bitcoin. In addition, Facebook as a platform will be used as a training platform for users; after the merge with WhatsApp video files can be uploaded to all the users in need of training. Likewise, Facebook will also be employed as a platform to educate users about the significance of Bitcoins to them and to their countries in general.
活动将采用社交媒体平台。 在 Facebook 中使用的唯一和最常用的社交媒体平台。
该基金会将使用 Facebook 作为竞选策略。 该平台将用于向公众宣传比特币。 此外，Facebook作为平台将作为用户的培训平台； 与WhatsApp合并后的视频文件可以上传给所有需要培训的用户。 同样，Facebook 也将被用作一个平台，教育用户比特币对他们和他们的国家的重要性。
All the functions is associated with at least two of the aims denoted by the Ministry of Finance at the start of the campaign: This is numbered at below;
i.Increase in the customer base in UK
ii.Ensures that the users understand the value of Bitcoin and the impacts denoted with Bitcoins
Note: The Gantt chart is attached below:
|Opening of the campaign|
|Undertaking PR Strategies||金融paper代写|
|Evaluation of the Campaign|
|Close of the Campaign|
|Opening of the campaign|
|Undertaking PR Strategies|
|Evaluation of the Campaign|
|Close of the Campaign|
The Budget covers a period of 10 months from its inception to the end of the campaign. An estimated Budget of £1.5 million inclusive of VAT will be used. This estimate are based on XYZ company accountant estimations. It was also seconded by various support accounts of both Bitcoin Foundation as well as those of the Ministry of Finance (Barok, 2011). 金融paper代写
|Marketing by Celebrities||120,000|
|Generation of Social Media ads||300,000|
|Hosting of the inauguration Meeting||350,000|
|Participation in Media Campaign||230,000|
|Designing of Billboards||170,000|
预算涵盖从开始到活动结束的 10 个月时间。 预计将使用 150 万英镑的预算，包括增值税。 该估计基于 XYZ 公司会计师的估计。 它也得到了比特币基金会和财政部的各种支持账户的支持（Barok，2011）。
|Marketing by Celebrities||120,000|
|Generation of Social Media ads||300,000|
|Hosting of the inauguration Meeting||350,000|
|Participation in Media Campaign||230,000|
|Designing of Billboards||170,000|
The campaign will be subjected to a serious audit from the onset to the last part of the campaign which is on March 2016. Data will be obtained from the company’s website and Facebook. The information will be analyzed based on the weaknesses noted as well as the strengths obtained. Since the media is one of the stakeholders, it will act as an oversee organization or company. Its role will be to oversee the audit process to ensure no biases of data is found during the audit process (Ron & Shamir, 2013).
The reports will be generated after every 6 months. The analysis of question from the media, stakeholders and users will be attended to by the XYZ Consulting accounting director. A cross-sectional analysis of the successes of the campaign will be correlated with the Bitcoin Foundation Smart objectives. 金融paper代写
The key success consideration will be that the Customer or the Users base should have increased to up to 50% over the 10th Month period. Nothing less than the campaign success was expected since the company success has been noted just after the first quarter of the year.
该活动将从开始到活动的最后一部分（即 2016 年 3 月）接受严格审核。数据将从公司网站和 Facebook 获取。信息将根据指出的弱点以及获得的优势进行分析。由于媒体是利益相关者之一，它将充当监督组织或公司。它的作用是监督审计过程，以确保在审计过程中不会发现数据偏差（Ron & Shamir，2013 年）。
报告将在每 6 个月后生成一次。来自媒体、利益相关者和用户的问题的分析将由 XYZ 咨询会计总监参与。该活动成功的横断面分析将与比特币基金会智能目标相关联。
成功的关键考虑因素是客户或用户群在第 10 个月期间应该增加到 50%。由于公司在今年第一季度之后就取得了成功，因此预期的竞选成功不亚于预期。
Bitcoin Exchange currency are one of the ways that a state or country manages its currency in respect to foreign Bitcoin Exchange market. This is a method employed by respective governments to administer their respective currency in comparison with other major currencies in the world. The Bitcoin Exchange currency and domestic, foreign Bitcoin Exchange market are directly linked to monetary policies. The two main Bitcoin Exchange Approach s are float, fixed Bitcoin Exchange currency, and between these two combinations of Bitcoin Exchange currency are other vital Bitcoin Exchange Approach s (Obstfeld, Shambaugh & Taylor, 2005). The other Bitcoin Exchange currency is floating or partly fixed.
For the case of floating Bitcoin Exchange currency, the values of the currencies are determined by the flow of the financial market. The most used currency in the world is floating the currency. The other names of floating currency Approach s in literature are managed float or dirty float. The reason they bear the above name is that governments always intervenes the foreign market to curb excessive instability in foreign Bitcoin Exchange currency. 金融paper代写
Managed and free Bitcoin Exchange currency is where Bitcoin Exchange currency oscillate, but the central banks are mandated to control the Bitcoin Exchange currency by selling and buying currencies. Free float and managed float approach, also known as dirty floats are whereby Bitcoin Exchange currency later day in day out. At this point, all the currencies are managed because the government or the central bank intervenes to affect the value of their currency. Hence, when a country claims to have a floating currency, then it must occur as a managed float.
比特币交易货币是一个州或国家在外国比特币交易市场管理其货币的方式之一。与世界上其他主要货币相比，这是各自政府用来管理各自货币的方法。比特币交易所货币和国内、国外比特币交易所市场与货币政策直接相关。两种主要的比特币交换方法是浮动的、固定的比特币交换货币，在这两种比特币交换货币组合之间是其他重要的比特币交换方法（Obstfeld、Shambaugh & Taylor，2005）。另一种比特币交易所货币是浮动的或部分固定的。
Bitcoin Exchange Currency Planning
Generally, the central bank sets a range, which its currency value may float freely against other major currencies. If the country’s currency goes beyond or below the range’s ceiling, the government or the central bank controls to manage the currency value back within the required range. The management undertaken by the central bank takes two different forms that include selling or buying a large amount of its currency to offer price resistance and support (Hill & Jain, 2007). For example, if the value of the currency is above its range, the government via the central bank ought to sell its currency that it has in the reserves. By placing more of its currency into circulation, the government decreases the currency’s value.
通常，中央银行设定一个范围，其货币价值可以相对于其他主要货币自由浮动。 如果该国的货币超出或低于该范围的上限，则政府或中央银行会控制将货币价值管理回要求的范围内。 中央银行的管理采取两种不同的形式，包括出售或购买大量货币以提供价格阻力和支持（Hill & Jain，2007）。 例如，如果货币的价值高于其范围，政府应该通过中央银行出售其储备中的货币。 通过将更多的货币投入流通，政府降低了货币的价值。
Why Bitcoin Exchange Currency in the UK
The Bitcoin Exchange currency permits the Bitcoin Exchange currency to alter or fluctuate constantly with no official boundaries. However, authorities, via direct intervention in the foreign Bitcoin Exchange market, manage the unofficial boundaries. This is evident for states or countries with weak economies because there are sure that the government will take charge in order to control the country’s currency. 金融paper代写
The other most significant advantages of this approach concern with the market forces. This means that there is a competent usage of financial resources to determine the Bitcoin Exchange currency. Hence fewer opportunities for speculators to make profits at the expense of the government or central bank.
比特币交易所货币允许比特币交易所货币在没有官方界限的情况下不断变化或波动。 然而，当局通过直接干预外国比特币交易所市场来管理非官方边界。 这对于经济疲软的州或国家来说是显而易见的，因为政府肯定会负责控制该国的货币。
这种方法的其他最重要的优势与市场力量有关。 这意味着可以适当地使用财务资源来确定比特币交易所的货币。 因此，投机者以政府或中央银行为代价获利的机会更少。
Moreover, the Bitcoin Exchange currency over monetary independence,
because the domestic currency will be in equilibrium with the foreign currency, thus, the economy of the respective country cannot accommodate the foreign and domestic shock such as interest currency and changes in terms of trade. The managed approach provides limited Bitcoin Exchange currency variability, removing the fear of huge devaluations in the future (Hill & Jain, 2007). In addition, other organizations such as banks, private firms, and the government are aware of the risks that emerge for offering liabilities dominated in foreign currency. In such a case, an inflationary shock is a state or country cannot be transferred to other countries or states since the shock is captivated by the flexibility. 金融paper代写
On the other hand, there are various arguments against the managed floating currency; high Bitcoin Exchange currency variability causes uncertainty, which often discourages international investment and trade (Arestis & Demetriades, 1997). This prompts deployment of intervention policy and interest currency to affect its behavior. In addition, using such approach poses risks to traders who cannot be hedged at model currency cost, and self-gene currency movements in the Bitcoin Exchange currency that currency disequilibrium rather than promote ideal changes or adjustments. Furthermore, the future way of Bitcoin Exchange currency is unknown, thus creates problems or hurdles in pricing currencies and business planning.
由于本币会与外币处于平衡状态，因此，各个国家/地区的经济无法容纳外币和内币的冲击，例如利息货币和贸易条件的变化。托管方法提供了有限的比特币交易所货币可变性，消除了对未来大幅贬值的担忧（Hill & Jain，2007 年）。此外，银行、私营公司和政府等其他组织都意识到提供外币负债所带来的风险。在这种情况下，通货膨胀冲击是一个国家或国家不能转移到其他国家或国家，因为该冲击被灵活性所吸引。
另一方面，针对受管理的浮动货币存在各种争论；比特币交易所货币的高度波动会导致不确定性，这通常会阻碍国际投资和贸易（Arestis 和 Demetriades，1997 年）。这促使部署干预政策和利息货币来影响其行为。此外，使用这种方法会给交易者带来风险，交易者无法以模型货币成本对冲，并且比特币交易所货币的自生货币变动会导致货币失衡，而不是促进理想的变化或调整。此外，比特币兑换货币的未来方式是未知的，从而在定价货币和业务规划方面造成问题或障碍。
Bitcoin Exchange Currency United Kingdom Approach
This is a Bitcoin Exchange currency whereby the currency value is fixed against another major single currency, or to another degree of value such a diamond or gold. The Bitcoin Exchange currency is used to stabilize the value of a weakening currency against the currency that is secured to. This makes investment and trade between the two-bullied currency more profitable and easier and is usually used for small economies that external trade encompasses large section of their Gross Domestic product. In addition, the Bitcoin Exchange currency controls inflation. However, as the reference value falls and rises, so does the fixed currency. According to Fleming model, an existence of perfect capital mobility triggers the fixed Bitcoin Exchange currency to prevent the government from using domestic monetary policy to gain macroeconomic stability. 金融paper代写
In such kind of approach, the government determine or controls the worth of its currency with respect to a fixed weight of gold or a fixed among of another states or countries’ currencies. For example, the central bank for a country remains committed to selling and buy its own currency at a fixed price. The banks mandate is to offer the foreign currency needed to finance imbalance of payments. In a fixed Bitcoin Exchange currency, the Bitcoin Exchange is held to alter in a narrow or small margin. Thus, monetary organizations intervene in the foreign market by buying and selling nation’s currency to maintain the Bitcoin Exchange currency firmness.
Bitcoin Exchange Currency United Kingdom 方法 金融paper代写
There are two main advantages of fixed Bitcoin Exchange currency.
First, a long-term fixed currency develops a stable basis for pricing and planning, therefore, vital in developing international trade and investment as well as the exclusion of Bitcoin Exchange risks. The second advantage is that fixed Bitcoin Exchange currency represents an outstanding nominal platform for monetary policy; therefore, many nations faced with macroeconomic stability adopt this approach. In addition, the approach also helps in imposing direct castigation on monetary policy (such a currency board) preferred in situations where financial markets and instruments are insufficiently developed for the operation of a market related monetary. 金融paper代写
Moreover, economies or countries that opt for fixed Bitcoin Exchange currency always experience currency substitution, and when such countries are faced with financial shocks, they always revert to Bitcoin Exchange approach because it automatically reduces monetary volatility. On the other hand, this approach is criticized due to the increased number of disadvantages it poses to the economy. The first is that, under this Approach, increase in the foreign interest currency leads to lower levels of output and increases the domestic interest currency, thereby attributing to costly affair for monetary authorities to maintain financial purity. Furthermore, it exposes domestic firms to unwarranted competition from imports, and their exports become increasingly less competitive.
Secondly, under this approach of Bitcoin Exchange currency, a nation is denied its monetary independence.
It calls a country to come up or develop a policy of monetary contraction and expansion to maintain a stable currency of Bitcoin Exchange.
Thirdly, fixed Bitcoin Exchange currency does not truly reflect cost-price affiliation countries’ currencies. Rarely do two states or nations share the same economic policies. Thus, the cost-price association between them keeps changing. For this to be possible, and then the Bitcoin Exchange currency should be flexible. This means that the approach does not reflect the cost-price relationship. 金融paper代写
Generally, a state will peg its currency to one of the major currencies such as United States Dollar or European Pounds, or a basket of other currencies. The ultimate choice of the currency of the basket if affected by other currencies in which the country international debt is dominant to a dimension in which the state trade is content currency with a certain trading partners.
In the case of a single currency, the currency is made stronger if the peg is not related to a certain principle trading partner. If the countries debt is dominated with other currencies, the choice begging the currency becomes a problem. However, with a Bitcoin Exchange currency, the first target Bitcoin Exchange currency is determined, the actual Bitcoin Exchange currency set, it can be allowed to alter or fluctuate in a platform or range around the first target expected. In addition, given the economic challenges, the targeted Bitcoin Exchange currency may also be modified.
Bitcoin Exchange currency is used by countries with small economies.
To protect a certain currency they ought to relay to the central bank of UK for intervention purposes; the central bank using various methods such as imposing of quotas or tariffs, or even to formulation of restrictions on the capital flow of currency.
It is worth of mentioning that when the pegged Bitcoin Exchange currency is far from the actual market currency, it will be a costly affair to defend it, and the solution cannot be long-term. In such a situation currency speculators benefit. The first merit of the approach is that helps in reduction of uncertainty in international portfolio and trade flows. It has been noted around the world that Bitcoin Exchange currency risks are considered barriers to international business. However, under this approach, guessing of the next Bitcoin Exchange currency period using scare resources is not evident Hence a solution to international business. 金融paper代写
Secondly, the approach creates an automatic balance of payment adjustment mechanisms to maintain externally and internal balance of payments. Such kind of mechanism is called price-specific flow mechanism. It takes care of imbalance of payments between countries price levels and current accounts. For example, if a country accumulates species and runs a currency surplus account, the prices increases, making the nation or country a prone place for foreign investments. Such a situation is helpful since it reduces foreign deficits as well as current account surplus in the home countries.
Thirdly, the Bitcoin Exchange approach in itself is an asymmetrical adjustment of monetary policies under a reasonable gold standard.
If a country’s central bank increases its money supply, it lowers the pressure of the state’s interest currency. Such a situation makes other nations or countries more appealing to investors (Arestis & Demetriades, 1997). However, pegged Bitcoin Exchange currency have demerits as well. Before looking at these disadvantages, it is also worthy questioning some of the advantages for better understanding. The approach has questionable price stability mechanisms. A metallic standard is known to promote price stability. 金融paper代写
However, various studies show that gold standard errors are known to experience huge fluctuations in the average price levels in a given country. Such fluctuations are caused by changes in the price of gold with respect to the price of other services and goods.
如果一个国家的中央银行增加其货币供应量，它会降低国家利率货币的压力。 这种情况使其他国家或国家对投资者更具吸引力（Arestis 和 Demetriades，1997）。 然而，挂钩的比特币交易所货币也有缺点。 在查看这些缺点之前，还值得对一些优点进行质疑以更好地理解。 该方法的价格稳定机制存在问题。 众所周知，金属标准可以促进价格稳定。
Bitcoin Exchange currency have doubtful prosperity and stability.
Since price, stability causes economic stability and finally prosperity, the assumption is that the metallic standards are linked to lower and higher volatility in growth. One of the most disastrous economic downfall in recent years, the Great Depression, was cause under the pegged Bitcoin Exchange currency. In addition, complex and contradictory monetary standards and policies were adopted during the gold standard period in the 18th century, which led to higher unemployment and lower economic growth among countries.
Under the currency, the price-specie-flow mechanism is questionable. The mechanism did not work during the gold standard period.
Generally, the approach does not work in a reserve currency standard country. It can be depicted that the mechanism cannot work, and if it did work then all countries, current accounts would be balanced. This is a clear indication that the currency has various downfalls to being considered valid or reliable (Arestis & Demetriades, 1997).
由于价格、稳定性导致经济稳定并最终导致繁荣，因此假设金属标准与增长的波动性越来越低有关。近年来最灾难性的经济衰退之一，即大萧条，是由挂钩的比特币交易所货币造成的。此外，在 18 世纪的金本位期间，采用了复杂且相互矛盾的货币标准和政策，导致各国失业率上升和经济增长放缓。
通常，该方法在储备货币标准国家/地区不起作用。可以说这个机制是行不通的，如果行了，那么所有国家的往来账户都会平衡。这清楚地表明该货币在被认为有效或可靠方面存在各种缺陷（Arestis 和 Demetriades，1997 年）。
Crawling Value of Bitcoin in UK
The Approach is an amalgamation of Bitcoin Exchange currency because the currency is tied to another major currency, but alternates within a limited margin. One of the well-known crawling arrangements created or developed among the European states in 1973, whereby their currencies they come up with dimensions to maintain their currencies within a specified limit of each other (Buiter & Grafe, 2012). The key merit of this approach is that it offers committed, and credible monetary policy hence provides a monetary discipline that cats as a nominal anchor for disinflation. This is cause for the fact that under the approach, the government or the country has limited ability to exercise short-term optional monetary policies because crawling currency manage the international flow of local or domestic monetary supply. 金融paper代写
The other advantage is that crawling currency are preferred when there are existing shocks linked with unstable domestic financial and monetary policies. Moreover, if a local currency is pegged to a major or more stable currency, such as the Dollar or Euro. The fluctuations are more predictable hence causing more trade opportunities to potential investors. The currency of the crawl is always set lower than the forecasted inflation, to fight any challenges associated with inflation in the future.
该方法是比特币交易所货币的合并，因为该货币与另一种主要货币挂钩，但在有限的范围内交替。 1973 年欧洲国家之间创建或开发的著名爬行安排之一，通过这些安排，他们提出了尺寸，以将其货币保持在彼此指定的限制范围内（Buiter & Grafe，2012 年）。这种方法的主要优点是它提供了承诺的、可信的货币政策，因此提供了一种货币纪律，可以作为通货紧缩的名义锚。这是因为在该方法下，政府或国家行使短期可选货币政策的能力有限，因为爬行货币管理本地或国内货币供应的国际流动。
Target Zone Bitcoin Exchange Currency
This an approach whereby two countries agree to keep the Bitcoin Exchange currency of their currencies in a certain range in a fixed form. The approach combines factors from floating and pegged to allow the market factors to have an effect on the Bitcoin Exchange currency of a given country or other competitive advantages in the country’s exports and imports.
Bitcoin is known to reduce risks in international trade by maintaining a fixed currency of the currency. It offers room for buyers and sellers from a given country to agree on a given price of services or goods (Obstfeld, Shambaugh & Taylor, 2005). Secondly, the approach eliminates destabilizing speculations. Speculation flows can be very destabilizing for an economy and the incentives to speculate are very small when the existing Bitcoin Exchange currency is targeted. The approach does not allow an automatic balance of payments adjustments. Target zone, Bitcoin Exchange currency, require the government or central bank to hold large reserves of foreign currency to maintain a fixed currency- this reserve creates an opportunity cost.
众所周知，比特币通过维持货币的固定货币来降低国际贸易中的风险。 它为来自特定国家/地区的买方和卖方就特定服务或商品的价格达成一致提供了空间（Obstfeld、Shambaugh 和 Taylor，2005 年）。 其次，该方法消除了破坏稳定的猜测。 投机流动对经济来说可能非常不稳定，并且当以现有的比特币交易所货币为目标时，投机的动机非常小。 该方法不允许自动调整收支平衡。 目标区域，比特币兑换货币，要求政府或中央银行持有大量外币储备以维持固定货币——这种储备创造了机会成本。
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